Yeti Finance — a cross-margin lending protocol on Avalanche that allows users to borrow up to 21x against their portfolio of LP tokens, assets like sJOE and sAVAX, and yielding stablecoins in a single debt position at 0% per annum.
About Yeti Finance
Yeti Finance — a quantum leap in stablecoins and lending. It is a new decentralized borrowing protocol that allows users to deposit assets and borrow the protocol’s own stablecoin, YUSD, as collateral. The YetiFinance protocol consists of proprietary and free and open source public domain software.
Other features:
| 1 | Farming and staking rewards automatically add up when interest-bearing tokens such as staked assets or LP tokens are deposited on the Yeti Finance platform. This opens up a variety of leveraged farming strategies. |
| 2 | Borrowers receive YUSD, an overcollateralized stablecoin that can be exchanged for additional assets and subsequently re-deposited with Yeti Finance to create a leveraged position. |
At any time, 1 YUSD can be exchanged for $1 of the underlying collateral minus redemption fees. YetiFinance is building a Liquity economic model to ensure peg stability and efficient liquidation. With YetiFinance, users can borrow against their portfolio of assets at 0% per annum.
Open your position (Trove) by listing any tokens on the YetiFinance platform and borrowing YUSD, an overcollateralized hard peg stablecoin. Contributors not only keep their farm rewards and stakes on income, generating assets, but also borrow YUSD to stake, provide liquidity or leverage up to 11x.
Over time, stability providers lose a proportional share of their YUSD deposits. They are expected to profit from liquidation and be rewarded for early adoption in the form of YETI tokens.
YETI token
YETI — the Yeti Finance protocol token. In the future, $YETI will become a governance token. Users can bet YETI to start accumulating veYETI over time, which can help to increase returns and reduce automatic interest fees in the near future. YETI rewards for staking veYETI are also coming soon. To start staking for veYETI, all you have to do - deposit your YETI tokens into the veYETI contract.